| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 73rd | Best |
| Demographics | 25th | Poor |
| Amenities | 99th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2147 Honeywell Ave, Bronx, NY, 10460, US |
| Region / Metro | Bronx |
| Year of Construction | 1931 |
| Units | 32 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
2147 Honeywell Ave Bronx Multifamily Investment
Neighborhood-level data points to strong renter demand and dense daily-needs amenities supporting stable occupancy, according to WDSuite’s CRE market data. All occupancy and rent dynamics referenced below reflect the surrounding neighborhood, not this specific property.
Situated in the Bronx Urban Core, the surrounding neighborhood carries a B rating and demonstrates durable renter demand. Neighborhood occupancy is in the mid-90s and has been broadly steady over the past five years, supporting income stability for well-managed properties. The share of housing units that are renter-occupied is very high, indicating a deep tenant base for smaller-format units typical of this submarket.
Amenity access is a clear strength: cafes, groceries, pharmacies, parks, and restaurants rank in the top percentile nationally, reinforcing walkability and day-to-day convenience that can aid leasing and retention. These location fundamentals compare favorably with many New York–area neighborhoods and help underpin demand for workforce-oriented apartments.
Within a 3-mile radius, households have increased in recent years even as population was roughly flat, reflecting smaller household sizes and supporting a larger renter pool. Looking ahead to 2028, forecasts indicate modest population growth and further increases in household counts, which should expand the tenant base and support occupancy stability.
Ownership remains a high-cost option relative to local incomes in this neighborhood, which tends to sustain reliance on rental housing and can support pricing power for well-positioned assets. Average school ratings in the neighborhood trail national norms, which may temper appeal for some family renters, but strong convenience and transit access often offset this for many working households.
Vintage context: the property’s 1996 construction is newer than the neighborhood’s average vintage from the 1960s, suggesting a relative competitive edge versus older stock. Investors should still plan for modernization of systems and finishes typical of late-1990s assets to sharpen positioning and support rent growth.
Safety indicators for the surrounding neighborhood trend below national averages and are below the metro median among 889 New York–area neighborhoods. Recent data shows year-over-year decreases in both violent and property offense estimates, which is a constructive direction for investors to monitor, but conditions still warrant prudent security, lighting, and access-control measures in operations.
For underwriting, a conservative approach to insurance, security budgeting, and resident screening is advisable, while tracking the improving trend. Comparative positioning versus peer neighborhoods across the metro remains a key consideration for tenant retention and achievable rent levels.
Proximity to major employers across technology services, media, aviation, and hospitality supports a broad commuter tenant base and can aid leasing stability for workforce apartments in this part of the Bronx.
- Cognizant — technology services (6.8 miles)
- Cognizant Technology Solutions — technology services (6.8 miles) — HQ
- Disney ABC Television Group — media (7.2 miles)
- Jetblue Airways — airline (7.3 miles) — HQ
- Loews — hospitality (7.3 miles) — HQ
This 32-unit, 1996-vintage asset benefits from a neighborhood with stable occupancy, very high renter concentration, and top-percentile daily-needs amenities—factors that support leasing velocity and retention. Relative to older local stock, the vintage provides a competitive baseline, while targeted upgrades can unlock value-add upside.
According to CRE market data from WDSuite, neighborhood occupancy trends sit above national averages and have been steady, while a high-cost ownership landscape sustains reliance on rentals. Within a 3-mile radius, households are expanding and are projected to continue growing through 2028, implying a larger tenant base and support for long-term demand. Key underwriting considerations include resident affordability pressure and below-median safety metrics, which call for thoughtful rent management and operational controls.
- Stable neighborhood occupancy and deep renter-occupied housing share support income durability
- Top-percentile access to groceries, pharmacies, cafes, parks, and restaurants reinforces location fundamentals
- 1996 construction offers a relative edge versus older local stock with potential value-add through modernization
- Expanding household counts within 3 miles indicate a growing renter pool and support for leasing
- Risks: elevated rent-to-income levels and below-median safety metrics require conservative rent growth and robust operations